Congressional Republicans Have No Plan to Cut Costs for Working Families
FOR IMMEDIATE RELEASE: May 11, 2022
PRESS CONTACT: [email protected]
CONGRESSIONAL REPUBLICANS HAVE NO PLAN TO CUT COSTS FOR WORKING FAMILIES
President Biden’s plan brings down costs for families is unanimously opposed by Republicans in Congress
WASHINGTON, D.C. — While President Biden is fighting for his plan to bring down the cost of essentials like health care, prescription drugs, child care, and utility bills for American families, Congressional Republicans have no plan to lower costs. The MAGA party has put forth an extreme agenda that would do the exact opposite: raise taxes on working and middle class families and sunset Medicare and Social Security.
“While President Biden has stood up for the middle class, including by refusing to raise taxes on anyone making less than $400,000 a year, Republicans in Congress have chosen a different approach: siding with big corporations and the ultra wealthy,” said Building Back Together Executive Director Danielle Melfi. “Republicans in Congress have padded the pockets of Big Pharma by voting against a $35 copay cap on monthly insulin costs. They voted for a $1.5 trillion tax giveaway to billionaires and big businesses during the previous administration – a move that gives 83% of benefits to the top 1%. They’ve endorsed an extreme agenda to raise taxes on most Americans – including a majority of small businesses. And they’ve unanimously opposed President Biden’s plans that cut costs for middle class Americans while lowering the deficit. President Biden is fighting for working class families, while Congressional Republicans are in the pockets of big corporations and the ultra wealthy.”
President Biden is leading a historic economic recovery and is laser-focused on lowering costs:
- The U.S. is on a path to fully regaining all jobs lost during the pandemic by this summer.
- Consumer spending and both business and residential investment have increased at strong rates in recent months.
- The number of Americans on unemployment insurance is at its lowest level since 1970.
- And a recent report highlights the small business boom under the Biden-Harris Administration: Americans started 5.4 million new small businesses in 2021, and small businesses with less than 50 employees created more than 1.9 million jobs.
- He’s put forth a plan to build on this progress that would lower the cost of health care, prescription drugs, child care, and utility bills — without raising taxes on anyone making less than $400,000 — by ensuring the ultra wealthy and large corporations pay their fair share.
- And he’s fighting for his bipartisan innovation bill, which will tackle inflation by strengthening supply chains and making more goods in America.
Meanwhile, Republicans in Congress have voted against measures to lower costs and support an extreme, MAGA agenda that would raise taxes and costs on millions of Americans:
- The vast majority of House Republicans voted against a bill that would have capped insulin copays at $35 per month.
- Republicans in Congress have endorsed raising taxes on 75 million Americans, over 95% of whom make less than $100,000 a year, a policy that would overwhelmingly hurt working families.
- This is nothing new for Congressional Republicans, who voted for massive tax giveaways under the previous administration that gives 83% of benefits to the richest 1% of Americans.
- Republican Senator Ron Johnson recently said that essential Affordable Care Act protections should be eliminated, raising health care costs and premiums for millions of Americans.
- Republican Senator Chuck Grassley has openly admitted that Republicans wouldn’t stand up to Big Pharma and their price gouging if Republicans control Congress.